Raiffeisen Bank International AG Buys 42,000 Shares of Frequency Electronics, Inc. $FEIM

Key Points

• Raiffeisen Bank International increased its Frequency Electronics stake by 350%, acquiring 42,000 additional shares for a total of 54,000 shares valued at approximately $3.34 million. Institutional investors collectively own 58.6% of FEIM.
• Analyst sentiment is mixed but remains broadly positive: FEIM has a consensus “Buy” rating and a $43.67 price target, despite recent downgrades from Wall Street Zen and Weiss Ratings.
• Frequency Electronics reported weak quarterly results, with a $0.50 per-share loss versus expectations for $0.26 in earnings and revenue of $15.4 million versus the $18.57 million consensus estimate.

Raiffeisen Bank International AG grew its stake in shares of Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) by 350.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,000 shares of the communications equipment provider's stock after acquiring an additional 42,000 shares during the period. Raiffeisen Bank International AG owned 0.55% of Frequency Electronics worth $3,336,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Frequency Electronics during the second quarter worth approximately $34,273,000. Dimensional Fund Advisors LP boosted its stake in Frequency Electronics by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider's stock valued at $11,391,000 after purchasing an additional 6,948 shares during the period. Next Century Growth Investors LLC boosted its stake in Frequency Electronics by 200.4% in the 4th quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider's stock valued at $11,816,000 after purchasing an additional 146,397 shares during the period. UBS Group AG grew its holdings in Frequency Electronics by 63.8% in the 3rd quarter. UBS Group AG now owns 208,334 shares of the communications equipment provider's stock valued at $7,065,000 after buying an additional 81,165 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in Frequency Electronics in the 4th quarter valued at $9,446,000. Institutional investors own 58.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FEIM. Wall Street Zen raised Frequency Electronics from a "strong sell" rating to a "sell" rating in a report on Saturday, July 4th. Weiss Ratings downgraded shares of Frequency Electronics from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $43.67.

Frequency Electronics Price Performance

Frequency Electronics stock opened at $60.67 on Friday. The firm has a market cap of $678.29 million, a PE ratio of -674.11 and a beta of 0.72. The stock's fifty day moving average price is $65.67 and its two-hundred day moving average price is $60.12. Frequency Electronics, Inc. has a one year low of $26.05 and a one year high of $80.60.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last released its earnings results on Wednesday, July 15th. The communications equipment provider reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.76). Frequency Electronics had a negative return on equity of 1.56% and a negative net margin of 1.43%.The business had revenue of $15.40 million for the quarter, compared to the consensus estimate of $18.57 million.

Frequency Electronics Profile

Frequency Electronics, Inc NASDAQ: FEIM is a U.S.-based designer and manufacturer of precision frequency control products and timing solutions. The company's portfolio includes oven-controlled crystal oscillators (OCXOs), atomic frequency standards such as rubidium oscillators, GPS-disciplined oscillators (GPSDOs), microwave synthesizers, and integrated timing subsystems. These products are used to provide stable and accurate frequency and time references for applications that demand high performance and reliability.

FEI serves a broad range of markets, including telecommunications, aerospace and defense, satellite and space systems, test and measurement equipment, and critical infrastructure.

Want to see what other hedge funds are holding FEIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source